Connors Investor Services Inc. Sells 8,818 Shares of Credo Technology Group Holding Ltd. $CRDO

Connors Investor Services Inc. lessened its holdings in Credo Technology Group Holding Ltd. (NASDAQ:CRDO) by 23.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 29,401 shares of the company’s stock after selling 8,818 shares during the period. Connors Investor Services Inc.’s holdings in Credo Technology Group were worth $2,722,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CRDO. Nuveen LLC bought a new position in Credo Technology Group in the 1st quarter valued at $52,636,000. Swedbank AB grew its position in shares of Credo Technology Group by 29.5% during the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock worth $129,280,000 after buying an additional 733,811 shares in the last quarter. Candriam S.C.A. bought a new position in shares of Credo Technology Group during the 1st quarter worth $29,258,000. FengHe Fund Management Pte. Ltd. bought a new position in shares of Credo Technology Group during the 2nd quarter worth $63,013,000. Finally, Westfield Capital Management Co. LP bought a new position in shares of Credo Technology Group during the 1st quarter worth $24,329,000. Institutional investors own 80.46% of the company’s stock.

Insider Transactions at Credo Technology Group

In other news, Director Pantas Sutardja sold 4,408 shares of Credo Technology Group stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $147.41, for a total value of $649,783.28. Following the sale, the director directly owned 5,894,244 shares of the company’s stock, valued at $868,870,508.04. The trade was a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William Joseph Brennan sold 9,476 shares of Credo Technology Group stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $140.06, for a total value of $1,327,208.56. Following the completion of the sale, the chief executive officer directly owned 347,399 shares in the company, valued at $48,656,703.94. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,006,589 shares of company stock valued at $138,151,863. Insiders own 11.84% of the company’s stock.

Analyst Ratings Changes

CRDO has been the topic of a number of recent research reports. Roth Capital reissued a “buy” rating and set a $170.00 price target on shares of Credo Technology Group in a research report on Tuesday, September 30th. Mizuho raised their price objective on Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credo Technology Group in a research report on Wednesday, October 8th. TD Cowen initiated coverage on Credo Technology Group in a research report on Wednesday, October 1st. They set a “buy” rating and a $170.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on Credo Technology Group in a research report on Friday, October 17th. They set an “overweight” rating and a $165.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $140.36.

Credo Technology Group Trading Down 4.8%

Shares of CRDO opened at $137.20 on Thursday. Credo Technology Group Holding Ltd. has a 12 month low of $29.09 and a 12 month high of $176.70. The stock’s 50 day moving average is $140.16 and its two-hundred day moving average is $96.95. The firm has a market cap of $23.74 billion, a P/E ratio of 204.78 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The business had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. During the same period in the previous year, the business posted $0.04 earnings per share. The firm’s revenue for the quarter was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.